Harbinger, a medium-duty electric vehicle (EV) manufacturer, has raised $100 million in a Series B funding round to advance its production and distribution capabilities.
The funding round was co-led by Capricorn’s Technology Impact Fund and Leitmotif, with additional participation from Tiger Global, The Coca-Cola System Sustainability Fund, ArcTern Ventures, and others, including strategic partners like THOR Industries.
This latest investment brings Harbinger’s total funding to $200 million since its launch in 2021, as reported by Pulse 2.0.
The capital will allow Harbinger to scale its production capacity to meet growing demand, enhance its sales and service infrastructure for nationwide deployment, and support new product development.
Harbinger’s approach integrates major vehicle systems in-house, enabling cost efficiencies and maintaining high quality.
Notably, the company’s electric chassis achieves price parity with traditional internal combustion engine vehicles after federal tax incentives, offering an attractive solution for businesses seeking electrification.
John Harris, Harbinger’s co-founder and CEO, emphasized the importance of the funding in scaling the company’s operations.
“These funds catalyze significant revenue generation. We’ve developed a vehicle for a segment that is ripe for electrification, and there is a strong product market fit that will help fuel our upward trajectory through 2025 and beyond,” said Harris.
The funding also positions Harbinger to invest in technologies such as advanced driver-assistance systems (ADAS) and hybrid solutions.
This includes the company’s recently announced hybrid RV chassis, developed in collaboration with THOR Industries.
The chassis, which enables a range of up to 500 miles, highlights Harbinger’s versatility and commitment to serving various use cases in the medium-duty vehicle segment.
Investors have recognized Harbinger’s progress and potential. Dipender Saluja of Capricorn Investment Group’s Technology Impact Fund noted, “Harbinger has demonstrated a remarkable ability to reach significant milestones far quicker than other EV companies.”
Jens Wiese of Leitmotif added, “Harbinger’s versatile electric or serial-hybrid chassis can serve nearly every use case in the medium-duty vehicle segment. It’s an ideal fit that will accelerate the trucking industry’s shift to an electric world.”
With an order book valued at approximately $500 million and backing from prominent partners, Harbinger is positioned to meet the rising demand for medium-duty EVs.